Dorian LPG Ltd (LPG)
Debt-to-capital ratio
Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long-term debt | US$ in thousands | 551,549 | 564,686 | 578,167 | 591,227 | 604,257 | 577,202 | 589,961 | 605,107 | 590,687 | 506,738 | 500,392 | 527,318 | 539,652 | 552,103 | 564,343 | 594,246 | 581,919 | 586,305 | 601,577 | 616,875 |
Total stockholders’ equity | US$ in thousands | 1,023,530 | 984,058 | 923,309 | 885,609 | 873,846 | 837,327 | 825,369 | 844,349 | 920,151 | 924,191 | 906,949 | 938,548 | 946,825 | 1,015,770 | 989,591 | 989,953 | 977,052 | 982,025 | 954,372 | 919,080 |
Debt-to-capital ratio | 0.35 | 0.36 | 0.39 | 0.40 | 0.41 | 0.41 | 0.42 | 0.42 | 0.39 | 0.35 | 0.36 | 0.36 | 0.36 | 0.35 | 0.36 | 0.38 | 0.37 | 0.37 | 0.39 | 0.40 |
March 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $551,549K ÷ ($551,549K + $1,023,530K)
= 0.35
The debt-to-capital ratio of Dorian LPG Ltd has been relatively stable over the past few quarters, ranging between 0.35 and 0.42. This ratio indicates the proportion of the company's capital that is financed by debt. A lower debt-to-capital ratio suggests a lower reliance on debt for financing, while a higher ratio indicates a higher level of debt in the capital structure.
Dorian LPG Ltd's debt-to-capital ratio peaked at 0.42 in the third quarter of 2022 and has since fluctuated within a narrow range. The ratio decreased to 0.35 in the fourth quarter of 2021 before increasing slightly to 0.36 in the first quarter of 2022. It then hovered around 0.36 to 0.39 until the third quarter of 2023, where it increased to 0.41 and further to 0.42 in the following quarter. However, in the most recent quarter, the ratio decreased to 0.35, which is one of the lowest levels observed in the historical data provided.
Overall, Dorian LPG Ltd's debt-to-capital ratio shows a stable trend with some fluctuations over the quarters. It is important for the company to carefully manage its debt levels to maintain a healthy capital structure and ensure financial stability.